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Feb 22, 2006 -- Michigan study outs Home Depot and Wells Fargo

The University of Michigan is famous for its customer service surveys, which are done quarterly every year. The most recent survey involved retail organizations including department stores, warehouse clubs and online stores. The No. 1 retailer overall this time was Amazon.com. In fact, the company received the second highest score its ever gotten. Barnes and Noble’s online store tied with Amazon, but the actual retail store did not. So overall the company needs some help. And the worst score went to Home Depot. Clark doesn’t normally buy individual stocks, but he has owned Home Depot stock for years. Yet when he goes to home improvement stores, he chooses Lowe’s. Incidentally, Lowe’s, on the other hand, did very well in the survey. In the supermarket business, Publix received top honors while Wal-Mart was last. In the shopping arena, Kohl’s was on top and Costco Wholesale was No. 2. Electronics stores did very poorly in the survey overall while banks did better than they have in the past. The greatest comeback was Bank of America, which twice received the lowest score of any company ever. The best of the big banks was Wachovia and the lowest went to Wells Fargo. So, who will you do business with?

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What others are saying

  • Wells Fargo Mortgage
    Is Wells Fargo any better now? This post was in 2006. I am considering refinancing my mom's mortgage and have been referred to Wells Fargo by her current mortgage company. Thanks.
  • Wells Fargo
    I decided to open a Wells Fargo Checking Account as they have had my mortgage for several years (4.5%). (They bought my mortgage from a small lender.)My Equifax FICO score is 811. Almost immediately they began hitting me with junk fees: $3.00 for talking to a customer rep on the phone. A Fee for not providing a special form in a timely enough basis for my SSN even though they had that info. on file. I subsequently opened a checking account with RBC (excellent Safe and Sound Score at Bank Rate) which is local. I am quite happy with them. Shopping for a "better" bigger bank is a waste of time.
    I thought they were a first class financial institution, however their customer service is lousy!
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